How To Pay Off Your Mortgage in 5-8 Years – A Review of Financial 101

Want to learn how to pay off your mortgage in 5 to 8 years?

…read this review of Financial 101…

…so my husband says an administrator of one of the facilities he visits invited him to attend a financial seminar at someone’s house…

…bells are going off in my head…

Why would anyone do a financial presentation at their house?

…I asked him “Is this an MLM?”…

…my husband Jomel says “it’s a class on money and investing and it was an hour long”…

…so we all just went, and I literally just got back to write this blog about it…

…it was a company called Financial 101…

…similar to Sweep Strategies, they help you learn to budget money, save, and restructure debt so that you can pay off your mortgage faster…

…then they help you invest in other properties for rental income…

Here is my honest review of Financial 101

Want to learn how to pay off your mortgage in 5 to 8 years?

…read this review of Financial 101

…so my husband says an administrator of one of the facilities he visits invited him to attend a financial seminar at someone’s house…

…bells are going off in my head…

Why would anyone do a financial presentation at their house?

…I asked him “Is this an MLM?”…

…my husband Jomel says “it’s a class on money and investing and it was an hour long”…

…so we all just went, and I literally just got back to write this blog about it…

…it was a company called Financial 101

…similar to Sweep Strategies, they help you learn to budget money, save, and restructure debt so that you can pay off your mortgage faster…

…then they help you invest in other properties for rental income…

Here is my honest review of Financial 101

REVIEW OF FINANCIAL 101

…so, the presentation is very informative for most people who do not understand interest rates, debt and money management…

…it discusses the advantages of paying off high interest debts as quickly as possible, to save lots of money in interest…

…and also shows people how to tap into the equity of their home to pay down the principal of their mortgages faster…

…instead of putting their money in a checking account, they put it in a line of credit and pay all of their bills from that instead…

…this saves money on interest that they would have had to pay towards their mortgage…

…they also teach how to responsibly use credit credit cards to earn points and other benefits…

…and also save even more interest on their mortgages…

PROS

Financial 101 helps people manage their money with their own coach and a structured program…

…and there are plenty of real life stories of people who took the course and it changed their lives…

…the story that I saw was from a couple that went from a $5,000/mo mortgage to now having no mortgage…

…not sure of the time frame or how much they owe on their line of credit, however, looks like they are doing better financially because the husband can build custom cars for a living instead of working a job…

…the lady who did the presentation was named Shantell, and she also had a great story of how her family went from being very poor to now traveling the world and owning her own home and car with no debt, and now owning investment properties and qualifying for Private banking…

…they have a beginner course which costs $199 which helps people get control of their spending and their cashflow, especially if they have negative cashflow (spending more than they are making)…

…then if they want to go to the next level, which is Financial 100, the $199 goes towards the cost of the 2nd course which is $1,499…

…Financial 100 teaches how to do automatic savings, and have a savings buffer…

…how to budget for future savings goals, and to be able to look at finances 3 months ahead…

…if you graduate within one year of Financial 100, they let you use the tuition to pay for Financial 101, which costs over $3,000…

…in Financial 101 you apply for the line of credit that you use as your checking account to deposit your paychecks and pay your bills…

…the advantage of using a line of credit as your checking account is that the same line of credit is used to pay down the principal of your mortgage…

…which saves money in mortgage interest…

…as the line of credit is paid down, there’s room to invest in investment properties…

…for people in Hawaii who tend to have high mortgages, and also credit card debt, this program can be very helpful in not only paying off debt, but also creating real financial wealth…

…in addition, they help people pay their tuition with the savings that they make from the saved mortgage interest…

CONS

…there aren’t that many cons that I can see with the program…

…the first that I noticed was that they talk about an emergency fund, and I think it’s wiser to save for different reasons, click here to learn more about why I would never have an emergency fund and better ways to strategically save your money

…the second is that if you already know what they are teaching, you don’t really need to take a course…

…I’m not sure if it would be cost effective if you had no mortgage or no debt and are already saving a lot of money, and already have investments making you passive income…

Conclusion

…I think for most people Financial 101 would be that financial education that we all needed to learn in school, and yet no one taught us…

…my husband and I are going to do the free assessment…

…and we get no financial benefit if you do decide to take Financial 101 courses…

…this is an unbiased 3rd party review…

… CLICK HERE to get your free assessment and check out Financial 101 for yourself!

What do you think?  Leave your review of Financial 101 in the comments below!

P.S.

I love blogging and helping others find financial freedom!

…is there something that you are passionate about, and that you could teach others?

…I suggest you consider blogging…

CLICK HERE, enter your e-mail, and watch the free video to learn more!

The Big Short, the Mortgage Crisis and What To Do With Your Investments

Mey here writing a blog tonight on the movie I just watched called The Big Short and am blogging about The Big Short, the Mortgage Crisis and What To Do With Your Investments…

…the trailer for the movie is playing now and I highly recommend watching it, it’s not only informative, it’s actually pretty funny and moving too…

…and in the movie, they basically talk about people who bet against the housing market in 2005, before the crisis hit in 2007…

…the movie is funny, and scary and taught me some basic things that you MUST do if you want to invest wisely in the market…

…so read this blog post to the end and decide for yourself what you need to do to keep your investments safe…

Mey here writing a blog tonight on the movie I just watched called The Big Short and am blogging about The Big Short, the Mortgage Crisis and What To Do With Your Investments

…the trailer for the movie is playing now and I highly recommend watching it, it’s not only informative, it’s actually pretty funny and moving too…

…and in the movie, they basically talk about people who bet against the housing market in 2005, before the crisis hit in 2007…

…the movie is funny, and scary and taught me some basic things that you MUST do if you want to invest wisely in the market…

…so read this blog post to the end and decide for yourself what you need to do to keep your investments safe…

Know What You Are Investing In

…this is usually for your fund manager to do, and in the movie, the fund manager of Scion asks a new employee to look into all the top AAA rated mortgage bond funds and tell him all of the mortgages that are in each of them…

…then when he got the data, he found out that most of the bonds were made up of a large portion of mortgages that were already late on their mortgage payments, or were adjustable rate mortgages that were going to have a huge rate hike in 2007…

…in other words, he took the fund and actually looked inside of it…

…and when he found out that it was made up of mortgages that were already going delinquent, and the rest would probably go delinquent in 2007 when their mortgage rates went up and people would not be able to afford their mortgage payments…

…now how this could happen?

…greed…

…the big banks that packaged the bonds were getting great returns selling them and as long as people bought them they didn’t care…

…it’s like if you know the apples you were selling were poisonous, and you just kept selling them because people did not know and kept buying them anyways…

…so, if you want to avoid huge losses in your portfolio, first step is to take a look inside of it and see what is in it…

Ratings Are Not An Indicator of A Funds Strength

…in the movie, the greatest tension for the investors who bet against the mortgage funds was that the ratings would not go down, even when the mortgage crisis was happening…

…two fund managers actually visited Standard Poor’s to see why they were still rating the bonds AAA when the mortgages in them were failing…

…and the representative told them that if they didn’t rate the bonds at AAA, the banks would go to their competitor…

…so, the banks did not allow the rating to change until they sold all of the failing bonds at the highest price possible…

…after they were sold and no longer at risk, they allow the rating agencies to downgrade the bonds…

…so, the moral of the story is, don’t trust the ratings…

…rate your bond yourself by looking inside it…

We Are All Responsible for The Economy’s Health And Our Own Investments

…I really liked the movie because it wasn’t a black and white “the banks are wrong and we are right” kind of movie…

…the main characters were in the movie making money off of the fact that they shorted mortgage bonds, meaning that they saw that they were bad and they bet against them…

…and then they had to work fast after to sell them before the banks collapsed and would be unable to honor their contracts…

…in other words, they capitalized on the bonds as well, and if the bonds didn’t exist, they wouldn’t have made all of the money that they did make…

…and that’s represented best by fund manager Matt Baum, who was extremely righteous at the beginning of the movie, and then became more humble when it was over, realizing that he also had capitalized out of the misery of so many Americans who lost their homes, retirement and pension funds…

…think about it this way, if someone applies for a mortgage and they don’t read the contract and figure out what they will be paying when their rate goes up is setting themselves up for forelosure…

…of course, there are banks that did not disclose this important rate change information and those banks have been heavily fined by regulatory agencies after the fact…

…however, a lot of people who bought homes, did it without a down payment, and just assumed they could refinance before the rate went up, without actually investigating on whether that would be true…

…even my husband was paying interest only payments on his mortgage and second mortgage…

…the whole structure of it was risky and so each and every person entering into the mortgage also has the responsibility to understand the risks…

…after all, there are no guarantees that housing prices will always go up, as we saw in the housing crisis and market crash of 2008…

…the moral of the story – if we make risky investments without any research or actual facts about our investment, and trust the words of an investment advisor who probably never looked inside of the funds themselves, then we are the fool being let by the fool…

…it is our responsibility to know what we are investing in, whether that is buying a house or investing in stock or fund or business opportunity…

Conclusion

…I thought the movie was very thought provoking, and I see why so many famous actors agreed to be in it…

…it’s very funny, compelling and taught me a lot about the market…

…I know a lot of people who lost a lot of money in the mortgage crisis…

…most of them are my age and it’s interesting to see how they adapted…

…they were millionaires, and now they are still millionaires…

…and you know what they are doing?

…they’re selling educational courses and blogging platforms to help people make money on their own terms…

…now their results aren’t typical, see full income disclaimer here…

…and the thing I like about them is that they are highly ethical…

…selling products that actually help people learn to make their own money on the internet…

…they take full responsibility for their own money…

…no longer going through banks and mortgages…

…if you got any value out of this post, then you need to meet them and to start investing in your education in internet marketing…

CLICK HERE, watch the free video, and get started…

 

 

3 Easy To Understand Videos Explaining the Interest You Earn and Owe

…do you understand how interest is earned in your bank accounts, or paid to your credit cards?

…if the answer is NO, then you are like most people…

…most people, INCLUDING MYSELF, did not understand interest until I saw it hit my account…whether earning or paying…

…so how can you learn to understand interest and have it work for you to make money, as if you owned a credit card company?

…watch these informational videos as they explain the questions that you’ve always wanted answered about interest…

…do you understand how interest is earned in your bank accounts, or paid to your credit cards?

…if the answer is NO, then you are like most people…

…most people, INCLUDING MYSELF, did not understand interest until I saw it hit my account…whether earning or paying…

…so how can you learn to understand interest and have it work for you to make money, as if you owned a credit card company?

…watch these informational videos as they explain the questions that you’ve always wanted answered about interest…

  1. Understanding Simple Interest and Compound Interest

    …in this video, simple and compound interest is explained by showing how the math works..

    …he does some factoring in it, so it might get confusing around minute 9…

    …however, basically what he is saying is that you can earn interest in the same amount every year (simple interest)…

    …or you can earn interest on the amount as it grows every year (compound interest)…

    …interest can be compounded annually, monthly, daily…

    …it’s important to understand how interest is being calculated on what you earn and what you owe…

    …trust me, this isn’t easy however if you take the time to learn this, you’re already very close to becoming financially free…

    …as you will start making better choices about what to do with your money…

  2. How to Calculate Interest Rates on Loans : How to Calculate Interest Rates on Loans

    …have you every heard of mortgage payment shock?

    …if you haven’t, it means the shock that someone gets when the book their first morgage loan and realize that it costs way more than they thought it would…

    …instant house poverty…

    …why does it happen?

    …because people don’t understand all of the points, fees and other costs that they have to pay in their mortgage payment…

    …this video does a good job of introducing these concepts by explaining how we compare rates using an Annual Percentage Rate (annual means the interest is calculated based on a year)…

    …and how we need to think about how much money we actually pay…

    …meaning, the rates can sometimes be illusions because they do not include the upfront fees that we have to pay in advance…

  3. Suze Orman Paying Off Your Mortgage Early

    …one of the biggest expenses that people have is their mortgage…

    …working for a bank I understand how the banks calculate interest and principal payments on a mortgage and did you know most banks collect most of their interest in the first year?

    …I like this video by Suze Orman because she explains why you want to pay off your mortgage early, if you want to keep your home…

    …and she tells you how to do it…

…if you found these videos helpful to you in understanding interest…

…then please share them with people you know…